The New Economy and the Ethics of Economic Interactions

László Fekete
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László Fekete: MOL, Chair of Business Ethics, Business Ethics Center, BUESPA, H-1053 Budapest, Veres Pálné u. 36, Hungary

Society and Economy, 2003, vol. 25, issue 2, 171-180

Abstract: The author demonstrates that the rules of economic interactions in the global network economy undergo a transformation but its direction does not follow the course of concluding fair, cooperative and consensual agreements or trust-based relationship between the parties as the contractarian or the communitarian advocates of the new economy imagined. He argues that the new rules of economic interactions in the global network economy are neither based on communitarian virtue of trust, nor on the fair contracts between the equal, self-interested and informed parties. The new rules of economic interactions represent some kind of a “private legislation” by the corporations which usually interfere with the interests and general welfare of their clients, customers or consumers.

Keywords: information technology; new economy; network society (search for similar items in EconPapers)
Date: 2003
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